AMETEK, Inc. (NYSE:AME) Shares Acquired by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC grew its stake in AMETEK, Inc. (NYSE:AME) by 25.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,528 shares of the technology company’s stock after acquiring an additional 514 shares during the quarter. Schechter Investment Advisors LLC’s holdings in AMETEK were worth $456,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. State Street Corp grew its position in shares of AMETEK by 0.3% in the third quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock valued at $1,583,231,000 after purchasing an additional 24,072 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of AMETEK by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock valued at $1,199,454,000 after purchasing an additional 250,538 shares in the last quarter. Geode Capital Management LLC grew its position in shares of AMETEK by 0.8% in the third quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock valued at $924,308,000 after purchasing an additional 45,459 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of AMETEK by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 4,415,508 shares of the technology company’s stock valued at $795,939,000 after purchasing an additional 99,505 shares in the last quarter. Finally, Flossbach Von Storch SE grew its position in shares of AMETEK by 2.5% in the fourth quarter. Flossbach Von Storch SE now owns 3,724,352 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 91,287 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AME. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. Truist Financial increased their price objective on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. KeyCorp increased their price objective on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Robert W. Baird lowered their price objective on AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Finally, Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $204.67.

AMETEK Trading Up 1.0 %

AME opened at $185.07 on Thursday. AMETEK, Inc. has a 52 week low of $149.03 and a 52 week high of $198.33. The business has a fifty day simple moving average of $183.34 and a 200-day simple moving average of $179.66. The firm has a market cap of $42.69 billion, a P/E ratio of 31.21, a P/E/G ratio of 2.73 and a beta of 1.14. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the business posted $1.68 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities analysts expect that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.31 dividend. This is a boost from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Friday, March 14th. AMETEK’s dividend payout ratio (DPR) is presently 20.91%.

AMETEK announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 7th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the sale, the director now directly owns 22,029 shares in the company, valued at approximately $4,172,512.89. This trade represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

AMETEK Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.